Demand for salt is usually:
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Correct Answer: Option B
Explanation:
Salt is a necessity and takes a very small part of consumer income. Even if price changes, people still buy nearly the same quantity. Because quantity demanded changes only slightly after price changes, demand is considered inelastic.
Salt is a necessity and takes a very small part of consumer income. Even if price changes, people still buy nearly the same quantity. Because quantity demanded changes only slightly after price changes, demand is considered inelastic.